Rockville , March 13, 2024 (GLOBE NEWSWIRE) -- The ingestible smart pills market is estimated to be worth US$ 1,475.2 million in 2024, driven by increased colon cancer prevalence and the demand for non-invasive diagnostic technologies. Capsule endoscopy technology developments enable doctors to do extensive digestive system checks without invasive surgical procedures. The industry is projected to develop at a 5.4% CAGR from 2024 to 2034, with a value of US$ 2,499.6 million by 2034.
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The elderly are more susceptible to gastrointestinal disorders, necessitating the use of capsule endoscopes for accurate diagnosis and treatment. Advancements in component technology and hybrid imaging have facilitated this, benefiting the market for smart medications.
The ingestible smart tablets are challenging for people needing home health care services. As a result, designers and developers are working to make smart pills more accessible and easy to use so that they may provide users with insightful information about their health.
The smart capsules are constructed so that even non-specialists may easily analyze the data. Most companies in this industry offer appropriate software that collects data over time, provides meaningful statistics on patient health, and offers suggestions for improving lifestyles.
These advancements have shortened treatment periods and improved the effectiveness of identifying and treating gastrointestinal disorders, leading to greater demand for these innovative smart tablets.
| Report Attribute | Details |
| Value Projection (2034) | US$ 2,499.6 million |
| Growth Rate (2024-2034) | 5.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 64 Tables |
| No. of Figures | 192 Figures |
Key Takeaways from Market Study
- The global ingestible smart pills market is expected to grow at 5.4% CAGR through 2034.
- With a significant CAGR of 5.6% through 2034, the market for ingestible smart pills in North America is predicted to expand.
- The industry for ingestible smart pills in East Asia is projected to grow at a CAGR of 6.0% until 2034.
- In 2024, the United States ingestible smart pills market is likely to command 84.2% of the market.
- China’s ingestible smart pills industry is anticipated to hold a share of 52.2% of the global market in 2024.
“The prevalence of chronic diseases, improvements in healthcare technology, an aging population, increased awareness of digital health, and partnerships between technology and pharmaceutical companies are all driving growth in the market for ingestible smart tablets. These elements aid in the creation of affordable, intelligent, and practical smart medications.” States the Fact.MR. Analyst
Key Companies Profiled in This Report
- Bodycap-medical
- Philips Respironics
- Given Imaging
- Olympus Corporation
- Proteus Digital Health
- Capsovision
- Chongqing Jinshan Science And Component
- Medimetrics
- Intromedic
- Check-cap
Escalating Technological Advancements Spurs the Sector Evolution
Market players that use strategic alliances with technology businesses and healthcare providers to incorporate their technologies into all-inclusive healthcare solutions dominate the global market for ingestible smart pills. Adoption is fueled by marketing initiatives that promote the advantages of ongoing illness management and health monitoring.
Research and development expenditures encourage innovation, while regulatory lobbying facilitates customer trust and market acceptability. To improve user experience and client loyalty, several businesses also prioritize interoperable systems and user-friendly interfaces. In this dynamic industry, market participants can prosper through innovative strategies, tactical partnerships, efficient marketing campaigns, and compliance with regulations.
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Country-wise Insights:
North America's edible smart pill industry is predicted to grow by 5.4% each year by 2034. Wireless ingestible capsules are expected to account for 84.2% of the U.S. business by 2024.
Meanwhile, the ingestible smart capsules market in East Asia is predicted to rise at a CAGR of 6.0% until 2034. With a 52.2% market share, China is predicted to dominate the East Asian ingestible smart tablet market by 2024.
Explore More Related Studies Published by Fact.MR Research:
Softgel Capsules Market: worldwide sales of softgel capsules are predicted to rise at a CAGR of 6.3% and reach US$ 2.16 billion by 2033-end.
Capsule Endoscope Systems Market: Global demand for capsule endoscope systems is predicted to increase at a high-value CAGR of 8.3% from 2022 to 2027.
Diet Pills Market: The healthcare diet pills market is likely to cross a valuation of USD 3.74 Billion by end of 2032.
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